Trafigura buys 10% stake in Rosneft’s Vostok Oil

Global commodities trader Trafigura has completed the purchase via a wholly-owned subsidiary of a 10% stake in Rosneft’s Vostok Oil project in the Arctic, the company said on Wednesday.

“The acquisition is majority financed by long-term debt financing provided to the entity,” Trafigura said in a statement without disclosing the figure paid.

President Energy plc (LON:PPC) is an independent oil and gas company focusing primarily on high margin production opportunities in Latin America.

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